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    Indo-French Astronomy focus meeting on international mega-projects discusses science vision for the next decade

    Indo-French Astronomy focus meeting on international mega-projects discusses science vision for the next decade

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    NCC Horse Show 2023 organised in Delhi Cantt

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    Republic Day Celebrations 2023: Over 1200 performers to take part in the first ever Military Tattoo & Tribal Dance Festival in the National Capital

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    PM flags off Vande Bharat Express train connecting Secunderabad with Visakhapatnam via video conferencing

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    Indo-French Astronomy focus meeting on international mega-projects discusses science vision for the next decade

    NCC Horse Show 2023 organised in Delhi Cantt

    NCC Horse Show 2023 organised in Delhi Cantt

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    Republic Day Celebrations 2023: Over 1200 performers to take part in the first ever Military Tattoo & Tribal Dance Festival in the National Capital

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    PM extends best wishes to army personnel on Army Day

    PM flags off Vande Bharat Express train connecting Secunderabad with Visakhapatnam via video conferencing

    PM flags off Vande Bharat Express train connecting Secunderabad with Visakhapatnam via video conferencing

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    Guj CM call to keep the rural-taluka-district sectors of the state at the forefront

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    BioAsia 2023 Announces a stellar speaker line-up to discuss the learnings, challenges and opportunities in Life Science post-COVID-19

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    Chief Minister Shri Bhupendra Patel dedicates ‘Azadi Ki Yaade’ Museum

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    Heartfulness Encourages Nurturing Young Agri Scholars For A Self-Sufficient India

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    Dholakia Ventures Hosts DV8 Infinite Possibilities-G20 for Start Ups in Surat, Aims to Mobilise Global Capital for Innovation in India

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    The Secretary, MeitY launches Technology for Air Quality Monitoring System (AI-AQMS v1.0)

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    Startup India Innovation Week culminates today with felicitation of Winners of National Startup awards 2022

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    Dholakia Ventures Hosts DV8 Infinite Possibilities-G20 for Start Ups in Surat, Aims to Mobilise Global Capital for Innovation in India

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    Acer Ushers In New Nitro Laptops with 13th Gen Intel Core Processors and NVIDIA GeForce RTX 40 Series GPUs

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Sunteck Realty Limited announces Operational Update for Q3FY21

NewsMonks by NewsMonks
2 years ago
in Economy, Share Market
3 min read
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Sunteck Realty Limited announces Operational Update for Q3FY21
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  • Pre-sales grows by 75% qoq in Q3 FY21Collections grows by 79% qoq in Q3 FY21High buyer interest witnessed in both completed and newly launched projects

Sunteck Realty Limited (SRL), Mumbai’s premium real estate developer, announced its Q3 and 9M FY20-21 operational updates.

ADVERTISEMENT
Rs cr
Operational DataQ3FY21Q2FY21QoQ %Q3FY20YoY %9MFY219MFY20YoY %
Pre-sales (new bookings)34920075%3257%6506136%
Collections25214179%16652%458540(15%)

SRL saw a robust growth in Pre-sales for Q3 FY21 at Rs 349 crore; it was up by 75% QoQ and by 7% YoY as well. Collections also grew at 79% QoQ to Rs 252 crore for Q3 FY21 and by 52% YoY.

As the operations resume post lockdown, the Company has continued its strong sales momentum, supported by its ready-to-move-in, nearing-ready inventory as well as newly launched projects. With the construction activity returning to pre-COVID levels, the Company remains focused on accelerating the project progress across the portfolio to offset the time lost on account of the ongoing pandemic. SRL recently launched the second tower at SunteckCity 4th Avenue, ODC and received a tremendous response due to its esteemed brand lineage, differentiated product offering in the micro markets and commitment for the superior customer experience.

Commenting on the Q3 FY21 performance, Mr. Kamal Khetan, Chairman and Managing Director, Sunteck Realty Ltd. said: “Our customer-first approach has underpinned our continued strong performance. Our superior product offering coupled with strong customer servicing through out the life-cycle of our patrons has won us the brand loyalty we command in the market today. A combination of favorable factors such as the reduced stamp duty and low interest rates is expediting the home-purchase decision. We are observing a trend of increased demand and renewed buyer interest for high quality products, especially those with strong balance sheet and high brand recall. With project execution ramping up, the collections across our projects has been sequentially growing and we remain confident to maintain this strong trend.” “Given the current socio-economic market dynamics, our continued focus on prudent cash flow management along with low debt ratios and financial flexibility have ensured our balance sheet strength on a sustained basis. We continue to focus on delivery driven by our strong in-house construction capabilities, which in turn will continue to generate sustained cash flows for us. The availability of inventory across our brands and pricing spectrum creates flexibility to offer projects based on needs of various customer segments. We believe, home buyers will continue to look for credible projects of reputed and financially strong real estate developers, as the pedigree of a trusted brand drives the preference for a new home buyer” he added.

Tags: AuditSunteck Realty Limited
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